Small Cap Feast

Small Cap Feast – 16 September 2019

Set Menu AIM:

Total number of AIM Companies (Incl Susp): 880

Total number of AIM Companies trading: 797*
* As at 16 September 2019

Set Menu NEX Growth:

Total number of NEX Growth Market Companies (Incl Susp): 89*

Total number of NEX Growth Market Companies trading: 87*
* As at 16 September 2019

Set Menu Standard List:

Total number of Standard List Companies (Incl Susp): 166*

Total number of Standard List Companies trading: 144*
* As at 16 September 2019

Dish of the Day:

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Off the Menu:

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Dish of the Day:

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What’s Cooking in the IPO Kitchen?

AIM

AMRYT PHARMA PLC— a biopharmaceutical company focused on developing and delivering innovative new treatments to help improve the lives of patients with rare or orphan diseases have raised $60m before expenses and will relist on the AIM Market on the 25/09/2019

Main Market Standard

VAALCO Energy, Inc. (NYSE: EGY), an independent energy company focused on development and production assets in West Africa, today announces its formal intention to seek a Standard Listing on the Main Market of London Stock Exchange (“LSE”), to complement its existing Listing on the New York Stock Exchange.

Kaspi.kz, the largest Payments, Marketplace and Fintech Ecosystem in Kazakhstan with a leading market share in each of its key products and services, announces today the expected publication of a registration document that has been submitted for approval to the FCA and its potential intention, subject to market conditions, to undertake an initial public offering .

Main Market premium

Registration document approved for Helios Towers. The Group provides essential network services, flexible infrastructure solutions and reliable power supply to mobile network operators  in five African growth economies.  Revenue increased 7 per cent. year-on-year to US$191m (H1 2018: US$178m), with Adjusted EBITDA up 15 per cent. year-on-year at US$99m (H1 2018: US$86m) for the six months ended 30 June 2019.

Breakfast Buffet

Angling Direct (ANG) 64p £39m

Angling Direct plc, the largest specialist fishing tackle and equipment retailer in the UK, announced that it has opened its 30th UK store in Milton Keynes, which began trading on Saturday 14 September 2019.

The new store offers a 6,500 sq ft. display area and is located just off the A5 at Winterhill, a major retail warehouse area, south west of the City Centre, the store is also approachable from the M1 which is 3 miles to the east.

Located in a hugely popular fishing area, with a large angling community and a series of lakes and river venues, the store is the only fishing tackle “destination store” of its kind in the area. As with all Angling Direct stores, it caters for a wide range of angling disciplines, whilst also providing excellent service from local and knowledgeable staff. The new store is creating five full and three part-time positions.

Location Sciences (LSAI) 2.95p £9.95m

Location Sciences, the leading mobile location data and intelligence expert, announces a new 12-month contract with Vicinity Media, Africa’s first premium location-based ad network. The partnership will see Vicinity run verification on all its location impressions.

Vicinity Media initially implemented Verify, Location Sciences’ proprietary location verification platform, to carry out an independent audit of its location data. An analysis of over 20 campaigns between March and July 2019 revealed Vicinity Media’s clients – including Nando’s – are benefitting from near perfect scores on quality and accuracy.

To maintain this standard and provide full transparency to brands over the use of location data in their targeted advertising campaigns, Verify will now be “always-on” for Vicinity Media’s clients.

Ovoca Bio (OVB) 12p £10m

Ovoca Bio, a biopharmaceutical company focused on identifying and developing novel therapeutics targeting the large unmet needs in the treatment of female sexual dysfunction, announced its interim financial statements and report covering the six-months ending 30 June 2019. Highlights

Completion of a Phase 3 study in Russia of drug candidate BP-101 in the treatment of female sexual dysfunction, showing statistically significant improvement in primary and key secondary endpoints;

Acquisition of an additional interest in IVIX LLC (“IVIX”), increasing Ovoca’s overall holding in IVIX to 59.9%;

Cash and liquid investments at fair value of €16.5m ($19.7m) as at 30 June 2019;

Total comprehensive income for the first six-months of 2019 of €2.2m ($2.3m); and

During the period, the Company disposed of a portion of its investment portfolio. The net proceeds from the sales amounted to approximately €3.0m ($3.4m).

Adamas Fin Asia (ADAM) 30p £26.34m

Adamas Finance Asia Limited, the London quoted pan-Asian diversified investment vehicle, provided an update on its investment in Future Metal, which was previously known as Hong Kong Mining Holdings. The Company holds an 85% shareholding in Future Metal, representing ADAM’s largest investment by value in the portfolio.

The Company reported continued progress at Future Metal, which remains on track to restart production in 2019. Harmony Capital, the Investment Manager of ADAM, was instrumental in appointing a new manager and an experienced team in May 2018 following which various permits and licences have been applied for and awarded to Future Metal to enable production to restart, as confirmed by the Company on 4 September 2019.

Oilex Ltd (OEX) 0.2p £5m

The Board of Oilex announced that it has entered into an exclusivity agreement with Koru Energy a subsidiary of Koru Energy Limited, for a potential acquisition of up to a 50% relevant interest in the Knox and Lowry, and Whitbeck gas discoveries  in the East Irish Sea, offshore the United Kingdom.  

The KLW Gas Discoveries are a series of shallow water gas accumulations that were discovered between 1992 and 2009  by the then operators and successfully drill-stem tested confirming discovered volumes that the Company and Koru would seek to bring into production, should the acquisition complete. The KLW Gas Discoveries are ideally located very close to a subsea tie-back pipeline which delivers gas to the nearby and recently refurbished North Morecambe Gas Production Platform and Terminal.

Omega Diagnostics Gp (ODX) 11.75p £15.33m

Omega, the medical diagnostics company focused on allergy, food intolerance and infectious disease, announces that, following the conclusion of a quality risk assessment review by the Expert Review Panel for Diagnostics (‘ERPD’), The Global Fund has informed the Company that its VISITECT® CD4 Advanced Disease test will be included in The Global Fund procurement list. This means that VISITECT® CD4 Advanced Disease tests may be procured by organisations with access to The Global Fund or UNITAID funds, following a review of procurement requests and the issue of a No-objection letter from the Global Fund.

M. P. Evans Group (MPE) 642p £367m

M.P. Evans Group PLC, a producer of Indonesian palm oil, announces its unaudited interim results for the six months ended 30 June 2019.

HIGHLIGHTS

6% increase in crop in first half

95,000 tonnes of CPO produced: up 3% on 2018

Increased oil-extraction rate to 23.6%

20% fall in average price of CPO to US$528 per tonne

Cost per tonne of palm product up US$35 to US$385 per tonne

Operating profit US$1.0m (2018 US$10.7m)

Interim dividend maintained at 5.00 pence per share

MTI Wireless Edge (MWE) 31p £25.88m

MTI Wireless Edge  the technology group, focused on comprehensive communication and radio frequency solutions across multiple sectors, announced that MTI Engineering Ltd, the Group’s expert consulting and representation division, has signed an agreement which includes an initial order valued at approximately US$1m, for the supply of Hi-Power Microwave Terminations to an Israeli customer over the next 16 months.       

MTIE’s General Manager, Adi Peleg, commented: “We are delighted with this agreement because it provides a lot of potential, including scope for the order size to more than double in the next two years, as our customer has designed its system around MTI’s component.

Savannah Resources (SAV) 2.05p £32m

Savannah Resources, the AIM quoted resource development company, which is focused on becoming Europe’s most significant producer of lithium spodumene concentrates from its wholly owned Mina do Barroso Project in has raised approximately £3.76m both new and existing investors at a price of 2 pence .

Rosenblatt Group PLC (RBGP) 93p £70.88m

Rosenblatt Group plc, the professional services group, has announced the acquisition of Convex Capital Limited, a specialist sell-side M&A corporate finance boutique, based in Manchester, UK.   The acquisition is in line with the Group’s M&A strategy. The total consideration for the acquisition, assuming all earn-out and deferred consideration payments are made, is £22 million

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Derren Nathan
0203 764 2344
derren.nathan@hybridan.com

*A corporate client of Hybridan LLP

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